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Property and casualty industry faces several challenges at once

Posted On: Jan. 12, 2023 9:37 AM CST

According to a survey, more than 89% of Canada's property and casualty insurance industry professionals agree that the multitude of issues facing the industry at once is creating a perfect storm, Canadian Underwriter reported. The top five concerns were talent acquisition and retention, natural catastrophes and climate change, hard market, economic recession, and effect of rising interest rates on claims costs.